Audit & Accounting

Don Ogilvie, who served as president and chief executive of the American Bankers Association for two decades, has joined Big Four firm Deloitte as senior advisor to the firm’s banking and finance industry group.

In testimony before lawmakers, Securities and Exchange Commission chairman Christopher Cox defended the Sarbanes-Oxley Act, but sided with critics of the sweeping reform act who maintain that parts of the mandate need to be changed— in particular Section 404.

Nearly one year after the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 was passed into law, a study by information and research services provider LexisNexis found that Chapter 7 bankruptcy filings were 71 percent lower than over the same period for 2004.

Despite corporations gaining more experience with complying with the mandates of Sarbanes-Oxley, concerns over the burdens of its implementation have grown over the past several years.

In the sideshow to the main event, KPMG landed its own courtroom blow this week -- filing a claim seeking compensation from some of its former employees indicted in connection with the firm's sale of questionably-legal tax shelters.

The Securities and Exchange Commission's top accountant has added his thoughts on how to properly account for stock options in the historical financial statements of public companies.

The Securities and Exchange Commission announced that it has filed and settled financial fraud charges against bank holding company Doral Financial Corp.

A church in Pasadena, Calif., says that the Internal Revenue Service has asked it to turn over all the documents and e-mails it created during the 2004 election year containing any references to political candidates.

A couple of months ago I came across the television and radio commercials of GoodAccountants.com and they got my back up.

The Government Accountability Office has released an updated listing of public companies that have made a financial restatement announcement because of financial reporting fraud or accounting errors.